Stolt-Nielsen reports lower first-quarter net profits

9:37 AM MDT | May 23, 2013 | —Ian Young

Stolt-Nielsen posted a fall in unaudited net profits for the first quarter of 2013 to $1.5 million, from $8 million in the corresponding quarter of 2012, on sales of $519.4 million, up from $505.7 million a year earlier. Operating profits increased to $33 million in the first quarter of 2013, from $30.7 million a year earlier. “Stolt-Nielsen’s poor first-quarter results were largely attributable to a loss at Stolt Tankers, where overall market conditions remain weak,” says CEO Niels Stolt-Nielsen. Stolt Tankers’ operating losses...